Charitable Gift Planning: A Practical Guide for the Estate PlannerAmerican Bar Association, 2007 - 846 páginas When Congress passed the Pension Protection Act of 2006, they created what may be the most significant reform to charitable planning since the Tax Reform Act of 1969. This practice-focused book is now fully updated to explain the legislation's impact on all aspects of charitable planning. It provides clear and insightful explanations of all relevant tax law, financial considerations, and includes drafting guidelines, and forms to assist with clients' charitable giving needs as part of a comprehensive estate and financial plan. Includes drafting guides and sample forms on CD-ROM. |
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Contenido
Charitable Deduction Rules for Gifts by Individuals and Their Estates Introduction | 1 |
Qualified Organizations | 2 |
What Is a Deductible Gift? | 3 |
When Is a Gift Deductible? | 19 |
Valuation | 22 |
The Reduction Rules | 27 |
Taking the Income Tax Deduction | 48 |
The Gift Tax Charitable Deduction | 58 |
Deferred Payment Gift Annuity | 399 |
Gift Tax Consequences | 400 |
Estate Tax Consequences | 401 |
Regulation of Gift Annuities | 402 |
Planning Opportunities | 404 |
A CRT Rolled Over to a Gift Annuity | 405 |
Gift of Future Interest in a Personal Residence or Farm | 406 |
What Is a Personal Residence or Farm? | 407 |
Qualifying Charities | 60 |
Substantiation Requirements | 61 |
The Estate Tax Charitable Deduction | 63 |
Qualifying Charities | 65 |
Qualifying Transfers | 66 |
Ascertainable Requirement | 70 |
GenerationSkipping Transfer Tax | 73 |
Donor Controls and Private Foundations | 75 |
Earmarked Gifts | 76 |
Contingent Gifts | 83 |
Private Foundations | 85 |
Establishing a Private Foundation | 92 |
Operational Restrictions | 99 |
Administrative Requirements | 140 |
Private Foundation Alternatives | 146 |
Terminating a Foundation | 154 |
Foundation Substitutes | 159 |
Supporting Organizations Under the Treasury Regulations | 161 |
Supporting Organization Reforms Enacted by the Pension Protection Act of 2006 | 178 |
Community Foundation | 190 |
DonorAdvised Funds | 192 |
DonorManaged Investment Accounts | 198 |
Charitable Remainder Trusts | 201 |
Legislative Background | 203 |
Rules Governing the Creation and Operation of Charitable Remainder Trusts | 205 |
The Grantor Trust Rules and the Date of Creation | 208 |
The Trust Must Qualify for the Income Gift and Estate Tax Charitable Deduction | 213 |
The 10 Percent MRI Test | 214 |
Noncharitable Benefits Limited to Payment of the Unitrust Amount or Annuity Amount | 215 |
Investment Restrictions | 220 |
Private Foundation Excise Taxes | 223 |
Return of Assets | 228 |
Rules Regarding Payout from Charitable Remainder Trusts | 229 |
Charitable Remainder Annuity Trusts | 230 |
Charitable Remainder Unitrusts | 232 |
Comparing Annuity Trusts and Unitrusts | 238 |
Permissible Recipients | 243 |
Term of the Trust | 249 |
Taxation of Distributions to Recipients | 253 |
Determining the Donors Charitable Deduction | 262 |
Gift Tax Consequences | 268 |
Estate Tax Considerations | 276 |
GenerationSkipping Transfer Tax Considerations | 279 |
Distribution of the Remainder Interest | 282 |
Dangerous DIPS for Charitable Remainder Trusts | 285 |
Unrelated Business Taxable Income and DebtFinanced Income | 286 |
Bargain Sale Consequences | 290 |
Investments | 292 |
Stock Options | 306 |
Comprehensive Environmental Response Compensation and Liability Act CERCLA | 319 |
Prearranged Sales | 320 |
Applying Revenue Ruling 78197 | 324 |
Corporate Redemptions | 325 |
SelfDealing and the Other Private Foundation Rules | 328 |
Application to Charitable Remainder Trusts | 332 |
Financial and Estate Planning Applications for Charitable Remainder Trusts | 335 |
Charitable Remainder Trusts and Irrevocable Life Insurance Trusts | 336 |
Using the Irrevocable Life Insurance Trust with a Charitable Remainder Trust | 339 |
The Mechanics | 340 |
Retirement Unitrusts and Spigot Trusts | 344 |
Using a FLIPCRUT for Retirement Planning | 345 |
Spigot Trusts | 349 |
Education Unitrusts | 357 |
Income Tax Benefits | 358 |
Structuring the Gift | 359 |
The QTIPCRUT Combo | 361 |
Partial Gift and Sale | 362 |
Stop the Bleeding Part I | 366 |
Cashing Out the Unitrust Interest | 368 |
Other Deferred Giving Arrangements | 373 |
Income and Gift Tax Rules | 374 |
Estate Tax Consequences | 379 |
Using Insurance within a Charitable Remainder Trust | 381 |
The Demise of Charitable SplitDollar | 385 |
Reporting Requirements | 389 |
Charitable Gift Annuity | 390 |
How the Annuity Amount Is Determined | 392 |
Income Tax Deduction to the Donor | 393 |
Structuring the Transaction | 409 |
Tax Consequences | 412 |
Qualified Conservation Contributions | 417 |
Qualified Real Property Interest | 418 |
Qualified Organization | 420 |
Use Exclusively for Conservation Purposes | 421 |
Income Tax Deduction | 426 |
Transfer Taxes | 429 |
Notice 200441 | 432 |
Charitable Lead Trusts | 433 |
Legislative History | 437 |
Required Payments | 438 |
The Unitrust Interest | 445 |
Trust Characteristics | 448 |
Term of the Trust | 455 |
Private Foundation Restrictions | 457 |
SourceOrdering Income Payments | 458 |
Effect of Unrelated Business Taxable Income | 460 |
Capital Gains | 461 |
Tax Benefits to the Donor | 462 |
Income Tax Consequences to the Grantor | 463 |
Gift Tax | 464 |
Estate Tax | 467 |
Testamentary Charitable Lead Trusts | 471 |
Grantor Charitable Lead Trusts | 472 |
Triggering the Grantor Trust Rules | 473 |
Income Tax Rules for Contributions to Grantor Charitable Lead Trusts | 475 |
Grantor Charitable Lead Trust | 476 |
Grantor Charitable Lead Trust Created during the Grantors Life | 477 |
Financial and Estate Planning Applications for Charitable Lead Trusts | 479 |
The Charitable Lead Trust and Family Limited Partnership Combination | 480 |
Caveats | 482 |
The Layered Testamentary Lead Trust | 483 |
The Testamentary Charitable Lead Trust and Charitable Remainder Trust Combination | 486 |
Using Testamentary Charitable Lead Trusts to Effectively Eliminate Estate and GenerationSkipping Transfer Taxes | 488 |
Maximizing the GenerationSkipping Transfer Tax Exemption with a Testamentary Lead Unitrust | 490 |
Trustee Issues | 493 |
Federal Tax Consequences of SelfTrusteed Trustees | 496 |
Cautions on SelfTrusteed Trusts | 503 |
Charitable Lead Trusts | 508 |
Charitable Planning with Retirement Plan Assets | 511 |
Lifetime Transfers of Retirement Plan Assets | 513 |
Testamentary Transfers of Retirement Plan Assets to Charity | 523 |
IRD Basics | 525 |
Interplay of the MRD Rules and Charitable Contributions of Retirement Assets | 527 |
Passing Retirement Plan Assets to Charity through an Estate or Trust | 536 |
Charitable Remainder Trust Applications | 544 |
Retirement Plan to Testamentary Charitable Remainder Trust | 545 |
The Charitable Remainder Trust as a Credit Shelter Trust for Retirement Plans | 553 |
Special Considerations for Certain Lifetime Distributions of Qualified Plan Assets | 561 |
Other Methods | 569 |
Gift Annuities | 570 |
Charitable Lead Trust | 571 |
Charitable Planning with Business Assets | 573 |
Contributions by FlowThrough Entities | 577 |
Charitable Tax Planning Using Business Assets | 579 |
Sole Proprietorships | 580 |
Partnerships and Other PassThrough Entities | 587 |
S Corporations | 592 |
C Corporations | 602 |
Drafting Guide for Private Foundations | 613 |
Private Foundation Articles of Incorporation | 617 |
Private Foundation Organizational Minutes Bylaws and Conflict of Interest Policy | 623 |
Private Foundation Trust Agreement | 641 |
Drafting Guide for Charitable Remainder Trusts | 651 |
Revenue Ruling 72395 | 657 |
Revenue Procedures 200353 Through 200360 | 683 |
Revenue Procedures 200552 Through 200559 | 701 |
Charitable Remainder Annuity Trust Agreement | 735 |
Charitable Remainder Unitrust Agreement | 745 |
Charitable Lead Unitrust Agreement | 757 |
ACGA Rates | 765 |
TABLE OF CASES | 775 |
TABLE OF STATUTES | 781 |
TABLE OF TREASURY REGULAT1ONS | 791 |
TABLE OF LETTER RUL1NGS REVENUE PROCEDURES AND REVENUE RUL1NGS | 799 |
INDEX | 807 |
Otras ediciones - Ver todas
Charitable Gift Planning: A Practical Guide for the Estate Planner Thomas J. Ray (Jr.) Vista de fragmentos - 2006 |
Términos y frases comunes
act of self-dealing additional contribution agreement annual annuity amount annuity interest apply benefit business taxable income charitable lead trust charitable organization charitable remainder trust charitable remainder unitrust Code Section Comm'r corporation create death described in section determined disqualified person distributions donor estate tax exempt fair market value fixed percentage foundation's funds generation-skipping transfer tax gift annuity gift tax governing instrument income tax income tax deduction Initial Recipient Internal Revenue Code investment noncharitable ordinary income paid payment payout Pension Protection Act Priv private foundation Private Letter Ruling public charity qualified receive Regulations remainder interest remainderman requirements retirement plan revenue procedure sample trust Service spouse Successor Recipient supporting organization supra note T.C. Memo tax charitable deduction tax-exempt taxpayer termination testamentary tion transaction Treas treat trust assets trust instrument unitrust amount unitrust interest unitrust period unrelated business taxable valuation date